The war with Iran has pulled the American oil industry out of a slump, raising corporate profits and spurring some companies to drill more wells. U.S. oil production is now forecast to grow modestly next year, topping 14 million barrels a day for the first time, according to the Energy Information Administration. The federal agency…
If there are any winners from the war with Iran in the business world, they are Western oil companies that are reaping the rewards of much higher energy prices. But don’t expect them to invest their bumper profits into pumping a lot more oil and natural gas — at least not yet. In fact, there…
The Supreme Court agreed on Friday that energy companies facing lawsuits over environmental damage to Louisiana’s coast from oil and gas production can move the challenges from state courts into friendlier federal venues. The ruling is a significant victory for oil companies, led by Chevron and Exxon Mobil, in their legal battle with Louisiana state…
